Press release
High Performance Permanent Magnet Market Size, Revenue Share, Insights & Future Outlook
High Performance Permanent Magnet Market SizeThe global market for High Performance Permanent Magnet was valued at US$ 10010 million in the year 2024 and is projected to reach a revised size of US$ 13650 million by 2031, growing at a CAGR of 4.5% during the forecast period.
High performance permanent magnets are advanced magnetic materials capable of maintaining strong magnetic fields without external power, characterized by high energy product (BHmax), coercivity (Hcj), and remanence (Br). These magnets primarily include rare-earth-based materials such as Neodymium-Iron-Boron (NdFeB) and Samarium-Cobalt (SmCo), as well as high-performance ferrites and composite magnets. They are widely used in electric vehicle (EV) motors, wind turbines, aerospace applications, industrial automation, and consumer electronics. Their high magnetic strength and compact size enable the miniaturization and efficiency of modern devices. As global industries move toward electrification and sustainability, high performance permanent magnets play a critical role as strategic materials in the transition to clean energy and advanced manufacturing.
North American market for High Performance Permanent Magnet is estimated to increase from $ million in 2024 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Asia-Pacific market for High Performance Permanent Magnet is estimated to increase from $ million in 2024 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
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The major global manufacturers of High Performance Permanent Magnet include Hitachi Metals Group, Shin-Etsu, TDK, VAC, Beijing Zhong Ke San Huan Hi-Tech, Yunsheng Company, YSM, JL MAG, ZHmag, Jingci Material Science, etc. In 2024, the world's top three vendors accounted for approximately % of the revenue.
By Type
• Sintered Magnet
• Hot-pressed Magnet
By Application
• xEV
• EPS
• Industrial Machine
• Factory Automation
• Wind Turbine
• Medical Industry
• VCM
• Aerospace & Defense
• Home Appliance
Key Companies
Hitachi Metals Group, Shin-Etsu, TDK, VAC, Beijing Zhong Ke San Huan Hi-Tech, Yunsheng Company, YSM, JL MAG, ZHmag, Jingci Material Science, AT&M, NBJJ, Innuovo Magnetics, SGM, Zhejiang Zhongyuan Magnetic, Earth- Panda, Daido Electronics, Tianhe Magnetics
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